Brockman Mining (159) H2 2026 earnings summary

Executive summary

• Recorded a net loss after tax of HK$28.8 million for the year ended 30 June 2026, an improvement from HK$34.6 million loss in 2025, mainly due to exploration expenses and interest costs, partially offset by gains on remeasurement of payables and a deferred tax benefit.

• No revenue was generated during the year; operations focused on advancing iron ore projects in Western Australia, particularly Marillana and Ophthalmia.

• The Group's net asset value stood at HK$454.0 million, with cash at bank of HK$3.9 million as of 30 June 2026.

Financial highlights

• Operating loss increased to HK$24.9 million from HK$20.5 million year-over-year, driven by higher exploration and evaluation expenses.

• Finance costs rose to HK$21.0 million (2025: HK$16.0 million), while finance income was HK$14.6 million (2025: HK$9.8 million), mainly from remeasurement of payables.

• Basic and diluted loss per share improved to HK$0.31 cents from HK$0.37 cents year-over-year.

• Cash outflows from operating activities were HK$19.6 million (2025: HK$18.6 million).

Outlook and guidance

• Focus remains on advancing the Marillana project in collaboration with MinRes and progressing Ophthalmia as a 100% owned project.

• Directors believe sufficient financial resources are available for the next twelve months, but material uncertainty remains regarding the Group's ability to continue as a going concern.

• No dividend was paid or proposed for the year.